Perceptron Names Jay Freeland as Chairman of the Board
May 22 2019 - 4:05PM
Perceptron, Inc. (NASDAQ:PRCP), a leading global
provider of 3D automated metrology solutions and coordinate
measuring machines, today announced the appointment of Jay
Freeland, a current independent director of Perceptron, as the new
Chairman of the Board of Directors, effective immediately.
Mr. Freeland succeeds W. Richard Marz, who has
retired from his position as Chairman of the Board. Mr. Marz will
continue to serve as an independent director until a replacement is
found. The Board of Directors will initiate a search to identify a
replacement board member, with a strong and dedicated focus toward
diverse candidates.
“We are incredibly excited to announce industry
veteran Jay Freeland as Chairman of the Board,” said David Watza,
President and CEO of Perceptron. “Jay’s broad resume of executive,
financial and operational leadership, as well as his immense
knowledge and experience in the metrology industry uniquely qualify
him to drive the strategic direction of Perceptron. This
appointment will enhance our continued focus on core competencies
and market share penetration, as well as our pursuits for growth
within automotive and adjacent industries.
We thank Rick for his many years of dedicated
service as an independent director and Chairman. We appreciate his
ongoing support and wish him all the best in his retirement.”
Mr. Freeland most recently served as President
and Chief Executive Officer of FARO Technologies, Inc. (“FARO”)
from December 2006 until December 2015, and as a Director of FARO
from February 2006 until December 2015. FARO is a publicly
traded global technology company that designs, develops,
manufactures, markets and supports software driven,
three-dimensional measurement, imaging and realization systems.
Mr. Freeland commented, “I am honored to be
appointed as Perceptron’s Chairman of the Board and am excited to
offer my experience and unique perspective as a catalyst for
continued momentum toward the Company’s current and future
strategic initiatives. On behalf of our board, I appreciate Rick’s
undeniable contributions to this company, and look forward to
continuing his leadership of Perceptron in pursuit of long-term
success.”
Mr. Marz has served as a director of the Company
since 2000 and Chairman of the Board since 2008.
About PerceptronPerceptron
(NASDAQ: PRCP) develops, produces and sells a comprehensive range
of automated industrial metrology products and solutions to
manufacturing organizations for dimensional gauging, dimensional
inspection and 3D scanning. Products include 3D machine vision
solutions, robot guidance, coordinate measuring machines, laser
scanning and advanced analysis software. Global automotive,
aerospace and other manufacturing companies rely on Perceptron's
metrology solutions to assist in managing their complex
manufacturing processes to improve quality, shorten product launch
times and reduce costs. Headquartered in Plymouth, Michigan, USA,
Perceptron has subsidiary operations in Brazil, China, Czech
Republic, France, Germany, India, Italy, Japan, Slovakia, Spain and
the United Kingdom. For more information, please
visit www.perceptron.com.
Safe Harbor StatementCertain
statements in this press release may be “forward-looking
statements” within the meaning of the Securities Exchange Act of
1934, including the Company’s expectation relating to the ability
to successfully develop and introduce new products and expand into
new customers and markets. When we use words such as “target,”
“will,” “should,” “could,” “believes,” “expects,” “anticipates,”
“estimates,” “prospects,” “outlook,” “guidance” or similar
expressions, we are making forward-looking statements. We claim the
protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995
for all of our forward-looking statements. While we believe that
our forward- looking statements are reasonable, you should not
place undue reliance on any such forward-looking statements, which
speak only as of the date made. Because these forward-looking
statements are based on estimates and assumptions that are subject
to significant business, economic and competitive uncertainties,
many of which are beyond our control or are subject to change,
actual results could be materially different. Factors that might
cause such a difference include, without limitation, the risks and
uncertainties discussed from time to time in our periodic reports
filed with the Securities and Exchange Commission, including those
listed in “Item 1A – Risk Factors” of our Annual Report on Form
10-K for fiscal 2018. Except as required by applicable law,
we do not undertake, and expressly disclaim, any obligation to
publicly update or alter our statements whether as a result of new
information, events or circumstances occurring after the date of
this report or otherwise.
Company Contact:Investor
RelationsPerceptron, Inc. investors@perceptron.com
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